In this season of giving, we hope you will consider supporting Texas CASA! We cannot advance our mission for children and families across the state without the generosity of individual donors. Here is some helpful insight and expertise on charitable giving from financial advisor Neil Tjon-Hing with 49 Financial.
What is a charitable giving plan?
A charitable gift to a nonprofit organization, whose goals and values align with yours, can be made in a number of forms: cash, property, appreciated stocks to name only a few examples. The donor expects nothing of value in return and there are different ways to gift these items. One of the most beneficial ways to donate is through a Donor Advised Fund, a simple and flexible way to support your charitable organization. When one gifts through a DAF, there is typically an immediate tax deduction eligibility, and the gifted funds can be invested for tax-free growth with the donor in charge to make grants to the charity of choice.
What are some common misconceptions about charitable giving and financial planning?
The most common misconception about charitable giving is that a certain level of donation, or certain amount of net worth is required to participate in a Donor Advised Fund. No minimum amount is required to implement a DAF strategy. One’s gift can have a much greater impact to the charity of choice since the initial donation not only creates a tax deduction, but the value inside of the DAF continues to grow tax-free, making those dollars stretch much further than when gifted outside of this strategic method. Additionally, its simplicity and flexibility are some of the many benefits gained when gifting in this manner.
What are some of the most tax-advantageous ways for anyone to donate funds to a nonprofit?
One of the most tax-advantaged ways to donate funds is through the strategy of a Donor Advised Fund. Reasons to consider this method include:
- It reduces one’s tax burden: this method can allow one to eliminate their long-term capital gains of appreciated assets given that certain IRS conditions are met.
- It simplifies record keeping: the initial contribution is the main transaction that one needs to track.
- When properly combined with financial planning tools like life insurance and charitable trusts, a DAF can often reduce or eliminate the burden of estate taxes to one’s heirs.
A donation to Texas CASA is an investment in the future of Texas children and families. You can learn about the many ways you can support us on our website, or feel free to contact us at email@example.com. Thank you!
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In this season of giving, we hope you will consider supporting Texas CASA! We cannot advance our mission for children and families across the state without the generosity of individual donors. Here is some helpful insight and expertise on charitable giving from financial advisor Neil Tjon-Hing with 49 Financial. What is a charitable giving plan? A charitable gift to a … Read More
McCraw Oil/Kwik Chek recently celebrated the 20th year of hosting their annual charity golf tournament at the Tanglewood Resort and Conference Center in Pottsboro, Texas. The event raised an outstanding $60,000 for local CASA programs in their areas of operation and Texas CASA. This is the 13th year CASA has been a beneficiary of the McCraw Oil/Kwik Chek golf tournament, … Read More
It’s the season of giving! Did you know that there are actually a variety of ways to give to Texas CASA and the CASA community beyond a traditional, one-time donation? Check it out! Local CASA Program Wishlists: If you’re looking to make a direct impact in your local community (and perhaps send your CASA program a holiday surprise), check out … Read More
Each year, New York Times columnist Nicholas Kristof’s “holiday gift guide” column helps bridge a philanthropic gap: readers who want to help society but don’t know the best way how, and heroic individuals and organizations who need resources and support but are not on donors’ radar. In this year’s column, “Choose a Gift that Changes Lives,” Kristof awards Holiday Impact … Read More
We’re excited to announce that we’re once again partnering with Blue Cross and Blue Shield of Texas’s Healthy Kids, Healthy Families® initiative in 2020! We have been awarded a $75,000 grant, which will help us continue our work to improve the health and wellness of Texas children in foster care by recruiting more dedicated community volunteers. Read more about HKHF and … Read More